LeanTaaS Secures $40 Million in Funding From Goldman Sachs

Bank Invests in Market-Leading Innovator of Predictive Analytics and Machine Learning Solutions Focused on Improving the Operational Efficiency of Healthcare
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SANTA CLARA, Calif. - Dec. 12, 2019 - PRLog -- LeanTaaS Secures $40 Million in Funding From Goldman Sachs

LeanTaaS, Inc., a Silicon Valley software innovator that helps hospitals and health systems increase access and lower cost through predictive and prescriptive analytics, today announced it has closed a $40 million Series C3 round of financing from Goldman Sachs' Merchant Banking Division. The investment by Goldman Sachs is in addition to the $61 million previously invested by Insight Partners over the three prior funding rounds beginning in November 2017, bringing the total amount raised within the last 24 months to $101 million.

With healthcare reform, an aging population, and an increasing number of new cancer diagnoses each year, the demand for healthcare services will continue to rise. At the same time, pressure from payers to improve efficiency means that providers cannot increase capacity indefinitely by building new facilities or hiring additional staff. Instead, they will need to use sophisticated optimization methods to match the growing demand for healthcare services with the operational constraints imposed by their existing assets (people, rooms, equipment).

LeanTaaS (https://leantaas.com/) uses lean principles, machine learning, and predictive analytics to digitally transform core operational processes to increase patient access, decrease wait times, improve staff satisfaction, reduce healthcare delivery costs, and improve operational performance. LeanTaaS' cloud-based iQueue platform uses sophisticated optimization algorithms to match the demand for expensive healthcare resources — operating rooms, infusion chairs, ambulatory clinics, imaging assets, inpatient beds — with the availability of supply, taking hundreds of real-world operational constraints into account. The algorithms continuously learn by comparing the expected versus the actual operational performance in order to ensure that the impact is sustained well into the future.

The financing will fund the continued expansion of the LeanTaaS iQueue platform, which currently consists of three solutions: iQueue for Infusion Centers, iQueue for Operating Rooms and iQueue for Clinics. The funding will also significantly accelerate the hiring of key leaders in roles throughout the company including engineering, data science, product management, sales, and marketing. LeanTaaS has nearly doubled the size of its team in 2019 by hiring more than 85 people in the last 10 months including experienced leaders from Rally Health, GE Centricity, Epic, Cerner, and Lehigh Valley Health Network.

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Dottie ORourke
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